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| A teetotaling beer aficionado  |
As reported Bourdain's estate is valued at 1.2 million along with a 1.1 million mortgage. Everything going to his young daughter. I thought he had more worth, especially considering a million dollar plus mortgage which eats up most of the plus side of the ledger. Must have been paying off X's. Link Men fight for liberty and win it with hard knocks. Their children, brought up easy, let it slip away again, poor fools. And their grandchildren are once more slaves. -D.H. Lawrence | ||
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| I believe in the principle of Due Process  |
Of all the assets mentioned in the article, I saw none that would have a mortgage attached to it. Also, be aware that these days, with the ubiquity of trusts and other probate avoiding arrangements, the assets shown in court documents are rarely the complete and accurate depiction of a person’s financial status. Luckily, I have enough willpower to control the driving ambition that rages within me. When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown | |||
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quarter MOA visionary |
You would think he would have accumulated more than that ~ not all that much really when you consider it. | |||
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| No good deed goes unpunished  |
I read somewhere that he had a trust. Trust assets don’t pass through probate and wouldn’t be included in his probate estate. Typically people who have a trust-based estate plan have a will that directs that probate assets are to be paid to their trust. In other words, their trust is the beneficiary of their will. | |||
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| I believe in the principle of Due Process |
More typically, people convey assets to one or more trusts for themselves and designated beneficiaries, and upon death, there is little or nothing to probate or pass by will. The new trustee takes over and manages the assets as provided in the trust. Luckily, I have enough willpower to control the driving ambition that rages within me. When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown | |||
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Member |
I read the same thing about a trust. He was worth way more than 1.2 million. ——————————————— The fool hath said in his heart, There is no God. Psalm 14:1 | |||
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Member |
Celebrity net worth web site list his net worth at the time of his death as 16 MIL. https://www.celebritynetworth....-bourdain-net-worth/ Collecting dust. | |||
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| Member |
Wonder how much of his own capital he had sunk into various media companies (book, video production..), along with the food hall that was to bear his name? The food hall may have been a cash cow for him with the licensed use of his name, and probable minority investor share. By the end of 2017 it was a dead project, given the difficulty with NYC gov and all the angles of land development in a hot market. | |||
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| No good deed goes unpunished |
Yes, all the action happens over in the trust. The pour-over will is for assets passing through probate because they weren’t funded to the trust. It happens quite often. We fully fund a trust when we do an estate plan, but there are many attorneys out there who either rely on the client to do the funding or just don’t bother with the funding. And clients often acquire new assets and don’t title them in the trust name. The will is the backup, and in my state, guardians for minor children are appointed in the will. | |||
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| A teetotaling beer aficionado |
That is more in line with what I thought he was worth. Men fight for liberty and win it with hard knocks. Their children, brought up easy, let it slip away again, poor fools. And their grandchildren are once more slaves. -D.H. Lawrence | |||
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| Member |
Plus the estate will get a check everytime he sells a copy of his book which will be a lot this year of his death I imagine. And also everytime his show is on travel channel or CNN and it’s been in heavy rotation since his passing. I don’t think that girl will be wanting for much in her life except her dad. | |||
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| Member |
what is the reasonable fee range charged for managing a trust? ------------------------ Proverbs 27:17 - As iron sharpens iron, so one man sharpens another. | |||
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| No good deed goes unpunished |
That can vary wildly. Trustee fees depend on what's in the trust (commercial real estate or only investment accounts), who the beneficiaries are (age, special needs, etc), who the trustee is, and even what part of the country you're in. Corporate fiduciaries, such as banks, usually have a fee schedule and a minimum trust size. Individual trustees may charge a percentage of assets under management or straight hourly billing. You'll likely pay more for a trustee in the northeast than you do here in the South. The trust code for my state says that trustee fees are to be "reasonable under the circumstances." | |||
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Republican in training |
I saw this story on the news and all I could think was "why in the fuck do we need to know this information??" Why is this even news? I can understand, one of the top 5 richest persons in the world dies and they talk about net-worth. But why the in the flying fuck is this in the news? -------------------- I like Sigs and HK's, and maybe Glocks | |||
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The Ayatollah of Rock 'n' Rollah |
I was always under the impression that he really didn't care too much about money. -Tom __________________________ "For the cause that lacks assistance/The wrong that needs resistance/For the Future in the distance/And the Good that I can do" - George Linnaeus Banks, "What I Live for" | |||
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Member |
If I had 16 mil I wouldn't care about money either, if you know what I mean. | |||
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